Government-owned utility Uganda Electricity Distribution Company Limited (UEDCL) is preparing to dive into the debt market in order to finance its takeover of assets of electricity distribution firm Umeme Ltd, whose 20-year concession expires at the end of March 2025.
Executives told stakeholders during a public hearing on Tuesday in Kampala that UEDCL will borrow $255 million to finance the Umeme buyout, and an additional $210 million to invest in the existing network to expand it over the next three years, in a bid to meet the growing demand for power.
